1 year ago
This is simply a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Jason Brett and Dusty Daemon to explicate however the White House is readying to modulate the cryptocurrency industry, however they presumption Bitcoin and Lightning, and the program for a cardinal slope integer currency.
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Jason Brett: What I tin archer you is that the White House conscionable did a last study from FSOC, which is the Financial Stability Oversight Council, which is similar the precocious assembly of each the regulators that look implicit what each the different regulators similar the SEC does. There was besides the White House model connected integer assets for the archetypal clip and I deliberation it's important to conscionable dissect a small spot astir what this means.
The cardinal takeaways are that there's apt going to beryllium a propulsion to modulate the exchanges much and absorption connected the subsidiaries and affiliates of exchanges that regulators look at, akin to the mode they present look astatine banks for the Federal Reserve, erstwhile they look astatine a slope holding institution oregon Bank of America, they look astatine what each the different affiliates and subsidiaries are doing. What's absorbing is the cardinal takeaways and themes of this caller benignant of model that we person from the White House is to absorption heavy connected probe and improvement into CBDCs (central slope integer currencies).
That's similar No. 1 is with the highest precedence and by the highest priority, the Federal Reserve, the White House and the U.S. Treasury person formed a CBDC moving group. So they are pushing each the levers to spot what probe and improvement needs to hap if the United States should take to present a CBDC. One happening that was not made nationalist is the Department of Justice besides did a study successful enactment with the enforcement bid connected integer assets, wherever they conscionable transmitted a report, which is simply a findings arsenic to what benignant of authorities the United States mightiness request to present truthful that a CBDC cannot beryllium authorized by the Federal Reserve.
That's fig one, and I wanna harp connected that for a infinitesimal due to the fact that I deliberation there's inactive a genuine belief. I deliberation betwixt Secretary Janet Yellen of the Treasury and besides Jerome Powell astatine the Fed and others astatine the Fed, who judge that if the United States tin present a cardinal slope integer currency, not lone to support the spot of the dollar successful presumption of what China's doing, but astatine the aforesaid time, they judge this volition fundamentally quiescent crypto/ bitcoin, right? People volition not beryllium arsenic funny successful bitcoin, necessarily. They're truly trying to spell aft the stablecoin market. To beryllium honest, bitcoin truly isn't connected the list; it's much they're disquieted astir these planetary stablecoins similar Circle’s USDC, but determination inactive is simply a cardinal content that is wherefore they're pushing connected each levers: to spot if the United States tin present the CBDC due to the fact that they spot it arsenic a problem-solver for each the issues they ever picture travel from things similar bitcoin and different coins.
English (US) 